Annual Financial Reports

The Village of Waunakee’s Annual Financial Report provides the Village Board of Trustees, Staff, Citizens, and other readers with detailed information about the financial position and activities of the Village. The report is designed to fairly present the financial position and results of operations of the village as measured by the financial activity of its various funds.

To ensure the village's financial information is held to the highest standard by both independent auditors and outside users of the village. The following polices have been adopted and implemented:

1. The village's accounting and financial reporting systems will be maintained in
conformance with all state and federal laws, generally accepted accounting
principals (GAAP) and standards of the Governmental Accounting Standards
Board (GASB).

2. An annual audit will be performed by an independent public accounting firm; with
an audit option to be included with the Villages' published annual financial
statements. The independent auditor will present the annual financial statements
and discuss audit findings concerning internal controls and operational efficiencies
at a public meeting.

3. The financial report should be in conformity with GAAP, demonstrate compliance with
finance related legal and contractual provisions, disclose thoroughness and detail
sufficiency, and minimize ambiguities and potentials for misleading inference.

4. Financial systems will maintain internal controls to monitor revenues, expenditures,
and program performance on an ongoing basis.